FEBEA and its members have contributed to the call for evidence on potential greenwashing practices in the EU financial sector of the European Supervisory Authorities (ESAs).
The increasing demand for Enviromental Social and Governance (ESG) investments and the redirection of private capital towards sustainable activities creates room for greenwashing and theese practices, when unveiled, undermine trust in the banking and financial sector.
This Policy Brief of FEBEA published with the support of the European Union analizes the problem of greenwashing and identifies possible practices and claims that a clear commitment to sustainability from all stakeholders throughout the value chain is required, rather than a mere compliance with the minimum requirements for a product or an activity to be considered “green”.
From FEBEA we demand transparency of ESG rating or excluding nuclear energy and natural gas from the list of sustainable investments in the Taxonomy Regulation, amongst other things.
